OPAL Fuels (NASDAQ:OPAL) Sees Large Volume Increase

OPAL Fuels Inc. (NASDAQ:OPAL) shares saw an uptick in trading volume on Monday . 147,576 shares traded hands during mid-day trading, an increase of 48% from the previous session’s volume of 99,972 shares.The stock last traded at $7.35 and had previously closed at $7.26.

Analysts Set New Price Targets

A number of brokerages have issued reports on OPAL. Piper Sandler upped their target price on OPAL Fuels from $12.00 to $16.00 in a research report on Tuesday, August 1st. Janney Montgomery Scott assumed coverage on shares of OPAL Fuels in a report on Friday, May 26th. They issued a “buy” rating and a $13.00 price target on the stock. Stifel Nicolaus upped their price target on shares of OPAL Fuels from $14.00 to $15.00 in a report on Tuesday, June 27th. Finally, The Goldman Sachs Group initiated coverage on shares of OPAL Fuels in a research note on Thursday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, OPAL Fuels has a consensus rating of “Moderate Buy” and an average price target of $14.00.

OPAL Fuels Price Performance

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 10.39 and a beta of 0.69. The stock’s fifty day simple moving average is $7.29 and its two-hundred day simple moving average is $7.14.

OPAL Fuels (NASDAQ:OPAL) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $55.04 million for the quarter, compared to analyst estimates of $65.44 million. OPAL Fuels had a negative return on equity of 0.66% and a net margin of 10.96%. On average, sell-side analysts predict that OPAL Fuels Inc. will post -0.56 EPS for the current year.

Institutional Trading of OPAL Fuels

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Angelo Gordon & CO. L.P. acquired a new stake in shares of OPAL Fuels in the 4th quarter worth about $73,000. State Street Corp acquired a new position in OPAL Fuels during the 1st quarter worth $72,000. Millennium Management LLC bought a new position in shares of OPAL Fuels in the fourth quarter worth $90,000. Morgan Stanley increased its holdings in shares of OPAL Fuels by 748.8% during the fourth quarter. Morgan Stanley now owns 13,802 shares of the company’s stock valued at $100,000 after purchasing an additional 12,176 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of OPAL Fuels during the fourth quarter valued at about $103,000. 11.17% of the stock is currently owned by institutional investors and hedge funds.

About OPAL Fuels

OPAL Fuels Inc, together with its subsidiaries, engages in the production and distribution of renewable natural gas for use as a vehicle fuel for heavy and medium-duty trucking fleets. It also designs, develops, constructs, operates, and services fueling stations for trucking fleets that use natural gas to displace diesel as transportation fuel.